Its success in the Champions League, where it topped a group including former champion Porto, Russia’s Zenit St. Petersburg and Ukraine’s Shakhtar Donetsk, has brought in 17 million euros, Alithia newspaper reported today.

Hadjiliasis declined to confirm the amount. The team has spent 500,000 euros on a commercial property in Nicosia, and will invest an unspecified amount in new training facilities and youth academies, he said.

APOEL qualified for the knockout stages of the Champions League after a 0-0 draw with Zenit yesterday. The club will benefit as the value of its players will increase because of the performance in Europe, the spokesman said.